Economic Snapshot
(Updated: Q3, October 2025)
by Lana Asaff, Senior Economist at the Atlantic Economic Council
People
Population, Workforce, and Education
The Saint John Region's population grew 2.4% in 2024, reaching more than 142,000 people - a record high. The region's population also got younger. Its median age was 43.3 in 2024, down 0.3 years from 2023. It remained younger than the province overall, with lower median and average ages.
Immigration was the main driver of population growth. The region welcomed over 2,400 immigrants in 2024, up from about 1,700 in 2023. Rising numbers of temporary international residents and interprovincial migrants also added to growth.
The number of jobs in the Saint John Region declined by less than 2%, or 1,200 positions, year-over-year in October. A gain in full-time employment was more than offset by a loss in part-time positions. The region's unemployment rate rose during this period, reflecting a similar pattern provincially. Job vacancies reached roughly 2,300 in 2025 Q2, up about 14% from a year earlier.
Public school enrolment in the region rose 1.3% in 2024, reflecting population growth, while high school graduates increased 5.7%. University enrolment also grew 3.3%, with small gains in domestic and international students.
Real Estate
Housing starts fell over 30% year-to-date in September after near record-high starts in the first nine months of 2024. The region's average single-family home price rose about 6% year-over-year in September to $338,200. Even so, Saint John's average price was lower than in other Atlantic Canadian cities. Average rent climbed about 10% in 2024 to $1,136, which was the second-lowest rent among Atlantic cities. The apartment vacancy rate improved from 2.3% in 2023 to 3.9% in 2024.
The region's office vacancy rate rose to 29.8% in June 2025 from 23.6% a year earlier. Total office square footage shrank slightly over the same period, while average asking rent edged up to $23.33 per square foot. Saint John continued to have the lowest gross office rent among New Brunswick cities.
The warehouse vacancy rate increased from 1.4% in June 2024 to 2.2% in June 2025. Warehouse square footage remained stable, with average asking rent rising 76 cents to $13.85 per square foot.
Commerce
New Brunswick's real economic growth eased to 1.6% in 2023 after expanding 2.0% in 2022. The Saint John Region accounted for 18.2% of New Brunswick's nominal Gross Domestic Product in 2021. This share was relatively stable compared to the two prior years. Annual inflation was 2.3% in September, up 1.4 percentage points from a year earlier and 0.7 percentage points from the previous month.
Active businesses in the region remained stable year-over-year in July at just over 2,900. 122 businesses opened that month. Health care and social assistance, retail trade, and construction had the most businesses with employees in 2024.
The value of international exports from the Saint John Region grew 2.4% in 2024. Manufacturing goods accounted for almost all the total exports. The region represented more than 68% of New Brunswick's total exports last year. Container cargo at the Port of Saint John posted strong growth, rising almost 21% in 2024 with almost 185,000 TEUs moving through the Port.
Tourism
Tourism activity in the Saint John Region held up well in 2024. Visitor nights fell by less than 2% following two exceptionally strong years. Air passenger traffic increased nearly 3% to 180,000. Cruise traffic stayed elevated at more than 163,000 passengers, though the number of passengers was 6% lower than in 2023.
Accommodation trends in the first nine months of 2025 were positive. Hotel occupancy rose to 62% year-to-date in September as demand increased while supply held steady. Hotel revenues grew over 5% alongside a similar increase in the average daily rate.
